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News

Uber Technologies's Options: A Look at What the Big Money is Thinking

Author: Benzinga Insights | July 03, 2024 03:31pm

Investors with a lot of money to spend have taken a bullish stance on Uber Technologies (NYSE:UBER).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with UBER, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 17 uncommon options trades for Uber Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 35%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $169,070, and 13 are calls, for a total amount of $1,527,082.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $100.0 for Uber Technologies over the last 3 months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Uber Technologies's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Uber Technologies's whale activity within a strike price range from $45.0 to $100.0 in the last 30 days.

Uber Technologies Option Activity Analysis: Last 30 Days

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
UBER CALL TRADE BEARISH 12/20/24 $23.25 $23.0 $23.0 $50.00 $411.7K 444 151
UBER CALL TRADE BEARISH 12/20/24 $23.75 $23.0 $23.0 $50.00 $243.8K 444 0
UBER CALL TRADE BULLISH 12/20/24 $23.7 $23.15 $23.72 $50.00 $215.8K 444 330
UBER CALL TRADE NEUTRAL 06/20/25 $7.05 $3.85 $5.55 $90.00 $166.5K 6.2K 0
UBER CALL SWEEP BEARISH 09/20/24 $2.51 $2.5 $2.5 $80.00 $114.7K 9.1K 179

About Uber Technologies

Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers. The firm's on-demand technology platform could eventually be used for additional products and services, such as autonomous vehicles, delivery via drones, and Uber Elevate, which, as the firm refers to it, provides "aerial ride-sharing." Uber Technologies is headquartered in San Francisco and operates in over 63 countries with over 150 million users who order rides or food at least once a month.

After a thorough review of the options trading surrounding Uber Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Uber Technologies

  • With a trading volume of 7,850,806, the price of UBER is up by 0.47%, reaching $71.0.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 27 days from now.

What The Experts Say On Uber Technologies

In the last month, 4 experts released ratings on this stock with an average target price of $91.25.

  • Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Uber Technologies with a target price of $96.
  • Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Uber Technologies with a target price of $90.
  • An analyst from Wells Fargo persists with their Overweight rating on Uber Technologies, maintaining a target price of $91.
  • Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Uber Technologies with a target price of $88.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Uber Technologies with Benzinga Pro for real-time alerts.

Posted In: UBER